Product Perspective: Updates from Skupos Insights Senior Product Manager
Convenience stores make up a $278 billion industry, with 70% of sales coming from smaller chains and independent stores. Before Skupos, visibility into sales performance at independent stores was nearly impossible.
Today, we’re excited to announce the newest version of Skupos Insights. We sat down with our product manager, Carolyn Chupa, to give you a behind the scenes look at how this launch will benefit brands!
Q. Hi, Carolyn! We know you’ve been busy with the launch of Insights, so thanks for taking the time to meet with us today. Before we get into the good stuff, can you share a little about yourself and your role at Skupos?
A. Hey there! I’m a Senior Product Manager overseeing our Enterprise data application. Time has flown by and I’ve already been at Skupos for a little over a year. During my time here, my main focus has been on our incredible Insights product - which is about to get even better! This tool provides CPG brands with the insights they need to understand how they’re performing in independent convenience retail. I work closely with our sales, client management, and engineering teams to understand our clients’ needs and bring them data in an easy, digestible format.
Q. Insights was initially launched in 2020 and as our partnerships with CPG brands evolved, we identified an opportunity to grow and expand the product. Can you give us a glimpse into what motivated the revamp of Insights?
A. Insights has grown tremendously since its launch in 2020 and our CPG brand clients have fueled that growth. Last year, I partnered closely with our brand clients to understand the type of data and analysis they need to be more successful in the c-store channel. From those interviews, we identified a variety of different use cases including things like distribution, price elasticity, sales velocity, geographic trends, and optimized pricing. We took that feedback, went back to the drawing board, and began building this newest version of Insights!
Q. An insights product isn’t always easy to visualize. Can you give us some tangible examples of what brands can expect from this newest version and how they can action the data?
A. For this newest version of Insights, we created data models and dashboards for 11 reports, and each gets more granular with more actionable insights. There are so many unique ways you can action the data, so I’ll just share a glimpse for now:
- Improve overall brand and product line distribution by targeting stores that don’t carry your brand
- Optimize shelf share by targeting stores that are not selling your core assortment
- Create promotion strategies by both viewing how often your competitors are discounting and by looking at market basket data to see what products your brand is most commonly purchased with
Q. This launch has been highly anticipated by CPG brands. From your perspective, what is the biggest challenge that Insights solves for brands?
A. When working with CPG brands, there is no one-size-fits-all. Not only do roles within a CPG organization differ, but brands also have different goals to grow their business based on size, category, and so much more. For example, you may be an emerging brand trying to gain distribution in the convenience store channel, or maybe you’re an established brand focused on targeting shelf share in specific locations or looking for retail POS data.
To solve for this, we built dashboards that provide insights from a macro perspective all the way down to store level data. This approach ensures that our Insights product is beneficial to any CPG brand, no matter the size or current presence in the market.
Q. Are there key differentiators that make Insights stand out from other vendors?
A. Not only do we capture vast amounts of data, but the uniqueness of our data sets us apart from anyone else in the industry. We currently capture 2 billion transactions a year and our independent c-store data coverage is 7x that of Nielsen and IRI.
Q. As the product manager, you’ve seen firsthand the evolution of Insights. What are you most excited about with this newest version?
A. I am so excited to continue giving brands deeper visibility into the independent market and I can’t wait to see how they use these insights to continue to grow!
Q. Lastly, and most importantly, congrats on the launch! As with any great product, Insights will continue to adapt to the needs of our brand partners. Any teasers of what’s next?
A. Thank you! It feels so rewarding to launch this newest version of Insights, but our work isn’t done yet. The team is already scoping out 3 additional reports, which we’re hoping to release in Q4. Past that, we’re looking into more complex analyses and continuing to identify more ways that brands can action the data with our sister product, Skupos Engage.